Correlation Between Eaton Vance and China Region
Can any of the company-specific risk be diversified away by investing in both Eaton Vance and China Region at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining Eaton Vance and China Region into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Eaton Vance Greater and China Region Fund, you can compare the effects of market volatilities on Eaton Vance and China Region and check how they will diversify away market risk if combined in the same portfolio for a given time horizon. You can also utilize pair trading strategies of matching a long position in Eaton Vance with a short position of China Region. Check out your portfolio center. Please also check ongoing floating volatility patterns of Eaton Vance and China Region.
Diversification Opportunities for Eaton Vance and China Region
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Eaton and China is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Eaton Vance Greater and China Region Fund in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on China Region and Eaton Vance is a relative statistical measure of the degree to which these equity instruments tend to move together. The correlation coefficient measures the extent to which returns on Eaton Vance Greater are associated (or correlated) with China Region. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of China Region has no effect on the direction of Eaton Vance i.e., Eaton Vance and China Region go up and down completely randomly.
Pair Corralation between Eaton Vance and China Region
If you would invest 527.00 in China Region Fund on August 26, 2024 and sell it today you would earn a total of 0.00 from holding China Region Fund or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 4.55% |
| Values | Daily Returns |
Eaton Vance Greater vs. China Region Fund
Performance |
| Timeline |
| Eaton Vance Greater |
| China Region |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
Eaton Vance and China Region Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Eaton Vance and China Region
The main advantage of trading using opposite Eaton Vance and China Region positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Eaton Vance position performs unexpectedly, China Region can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in China Region will offset losses from the drop in China Region's long position.| Eaton Vance vs. Columbia Greater China | Eaton Vance vs. Guinness Atkinson China | Eaton Vance vs. Aberdeen China Oppty | Eaton Vance vs. Eaton Vance Greater |
| China Region vs. Janus Global Technology | China Region vs. Technology Ultrasector Profund | China Region vs. Science Technology Fund | China Region vs. Towpath Technology |
Check out your portfolio center.Note that this page's information should be used as a complementary analysis to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Analyst Advice module to analyst recommendations and target price estimates broken down by several categories.
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